Online shopping websites for retail sales direct to consumers. Providing or participating in online marketplaces, which process third-party business-to-consumer or consumer-to-consumer sales. Business-to-business buying and selling.
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Selling goods and services online comes with a wide variety of benefits. Most significantly, it opens businesses up to a much larger customer base than they can access with a brick-and-mortar location alone. With an e-commerce site, businesses aren’t limited to selling their merchandise to those in and around their local communities. Shoppers all around the globe can access the sites, significantly boosting the potential for profit.
In another plus, e-commerce businesses always stay open. While most brick-and-mortar locations may operate eight to 10 hours a day, e-commerce businesses run around the clock. Being able to make sales and money at all hours of the day is a big advantage.
Running an online business can also reduce costs. Specifically, online-only businesses don’t have to pay rent on a physical location and don’t have to pay employees. Since they don’t require the same amount of manpower to run, these businesses enjoy huge cost savings.